According to the Timex Case,Timex Has Discovered That with Consumer

question 71

Multiple Choice

According to the Timex case,Timex has discovered that with consumer demand for new features in their watches,_______________ is key to the watch industry.

• A)Locking-in customers
• B)Creating switching costs
• C)Raising barriers to entry
• D)Innovation

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Definitions:

Risky

Involving or exposed to a high degree of uncertainty or subject to potential loss.

Prime Rate

The lowest interest rate that banks generally charge their best customers.

Banks

Financial institutions licensed to accept deposits, make loans, and offer various financial services to individuals and businesses.

Specialty Retailers

Stores or businesses that focus on specific product categories, offering a narrow but deep assortment of merchandise.